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Alberta’s Pre-Election Budget Biggest Surprise? Fiscal Prudence!
Pre-election budgets are rarely admirable. Money is spread around like pixie dust to curry the support of voters and to knee-cap opposition parties by borrowing their ideas. To a certain extent, the pre-election good news budget that Alberta Finance Minister Travis Toews delivered Tuesday follows this time-honoured political path, helped by $27.5 billion in oil and gas revenues in the 2022/23 fiscal year. And so, it is easy to chide the budget for populist policies like freezing insurance rates and capping post-secondary tuition fee increases at 2 per cent and for industrial policy measures for politically favoured industries (such as agricultural processing and film and television production). And there is the usual scattering of minor tax credits instead of a general cut in personal taxes – with no mention of a tax review geared to major reform, which the United Conservative Party proposed when it took office.
Pre-election budgets are rarely admirable. Money is spread around like pixie dust to curry the support of voters and to knee-cap opposition parties by borrowing their ideas. To a certain extent, the pre-election good news budget that Alberta Finance Minister Travis Toews delivered Tuesday follows this time-honoured political path, helped by $27.5 billion in oil and gas revenues in the 2022/23 fiscal year. And so, it is easy to chide the budget for populist policies like freezing insurance rates and capping post-secondary tuition fee increases at 2 per cent and for industrial policy measures for politically favoured industries (such as agricultural processing and film and television production). And there is the usual scattering of minor tax credits instead of a general cut in personal taxes – with no mention of a tax review geared to major reform, which the United Conservative Party proposed when it took office.
The AEG podcast, Episode 3: Future Forward: Navigating the Evolving Landscape of Work with Eric Termuende
Join us on the AEG podcast as our President, Catherine Brownlee, sits down with best-selling author and internationally recognized thought leader Eric Termuende. In this dynamic interview series, Eric shares his extensive research and insights on the future of work, leadership, workplace culture, and talent management. From understanding what sets amazing leaders apart to building resilient, innovative teams, Eric provides valuable strategies and practices that have already been adopted by industry-leading companies such as Amazon, Coca-Cola, IBM, and Toyota.
Join us on the AEG podcast as our President, Catherine Brownlee, sits down with best-selling author and internationally recognized thought leader Eric Termuende. In this dynamic interview series, Eric shares his extensive research and insights on the future of work, leadership, workplace culture, and talent management. From understanding what sets amazing leaders apart to building resilient, innovative teams, Eric provides valuable strategies and practices that have already been adopted by industry-leading companies such as Amazon, Coca-Cola, IBM, and Toyota.